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- RachFX replied Oct 17, 2021
100% everyone told me to use a demo but found it gave me a false sense of security! Only lasted a month and got straight on a micro account and never looked back.
- RachFX replied Oct 17, 2021
This is really good advice, I will take this onboard myself, thank you
- RachFX replied Oct 17, 2021
Mindset and emotions of trading real money is the biggest difference. I would suggest a micro account as an initial step before over investing. As the account grows, risk should always be viewed as a percentage and not the value to help control your ...
- RachFX replied Oct 17, 2021
I will assume you understand the basics of trading, if not, start with forex basic education before trading news. Start by the following the news events on the calendar and how they impact charts, subscribe to news/financial channels to follow and ...
- RachFX replied Sep 28, 2021
If you are a night owl, the london session, otherwise the New york opening would be the next highest volatility and good time to trade.
- RachFX replied Sep 28, 2021
This is a good list of tips to follow. It is important for all traders to compose a list similar specific to them and their personality.
- RachFX replied Sep 28, 2021
Stop loss - Yes Why - this is sound risk management and key to success. How big - varies for every trade depending on structure of the market
- RachFX replied Sep 14, 2021
The top and bottom if we had a magic ball. Entering is when you see a reversal pattern and the shift in momentum and market structure, e.g. A lower high being broken to forma new Higher high. And to exit a trend I would use the same confirmation ...
- RachFX replied Sep 14, 2021
Can I ask what your preference is fo the SMa over eMAs?
- RachFX replied Sep 14, 2021
That is a return I would love to be achieving. My aim is too achieve 5% per week, but this is hit and miss, some weeks are better than others.
- RachFX replied Sep 14, 2021
Thank you so much for taking the time to write this post oout and share your experience. To truly appreciate and achieve success takes time and effort to begin with, and your process is extermely comprehensive. I am at he stage of testing my own ...
- RachFX replied Sep 14, 2021
No Trading Plan or Risk Management
- RachFX replied May 8, 2019
General figures would suggest 90% of traders lose, some say slightly more or less, but either way its a big number. No doubting that Forex is risky, but being successful is not impossible.
- RachFX replied Apr 14, 2019
Once a new trader has acquired the skills to use a broker/MT4 , and developed a trading style/edge whatever you choose to call it, this advice absolutely applies imo, practicing and mastering your skills on a micro account is an education in itself. ...
- RachFX replied Apr 13, 2019
If you can take a small account say on 0.01 lots and build that account successfully, I believe you will go far. As in order to do that you must apply good Risk Management, patience, and be unemotional. A small account is equally as good for the ...
- RachFX replied Apr 13, 2019
Really good advice, I think starting from a small account, is the best learning curve, education you can take when starting out.
- RachFX replied Apr 13, 2019
This is precisely it, the difference is in the traders head!!
- RachFX replied Apr 10, 2019
Valid points Trivion, short term vs long term success is a huge consideration in the statistics.
- RachFX replied Apr 9, 2019
Interesting data, gives us slightly more of an edge to be successful! but as you said still a very high figure, stacked against retail traders.
- RachFX replied Mar 31, 2019
Thank you for sharing, this is really positive to read and puts in perspective what it takes.